Have you bought a new car lately? Did you get the 7 year extended warranty? Why or Why Not?

I have always turned down the extended warranty. however, I am re-thinking extended warranties. New vehicles have so much technology. The extended warranty typically covers the tech and electronics; so often it is no longer a mechanical failure but a technology/sensor error. Diagnosing a troublesome sensor or tech error can be time consuming and costly. Your thoughts.

We don't generally buy extended warranties on anything. The first time we did was for our appliance package. We bought a new home 3 years ago and we used the builder extended warranty on our dishwasher about 5 times before it expired (so did our neighbor) and the tech told us that it was a matter of time before our fridge ice-maker went out as it is a known issue. We bought a 5-year warranty and they have been out to fix the ice-maker 4 times and they need to come out again. Frigidaire Gallery. They are pretty but terrible appliances. Anyway... the general answer is no, we don't buy the warranty but for appliances, it has saved us a bundle (though they refuse to fix the actual units). We also don't buy new cars. So... I guess I'm no help. -Kasey

I bought my truck this past Fall. It's still under bumper to bumper warranty. When the warranty runs out I will buy an extended warranty but it won't be for 7. I won't have my truck that long. I seem to have a pattern of holding vehicles for about 4-5 years max.

I purchased a certified used car 2 years ago. I did get the extended warranty. So far, the only work I've had to get done (other than maintenance, oil change) was covered by the warranty. And yes, the technology is at the root.

First, I never buy new cars (not a good investment). Even when I bought my Lexus, I saved $12k but buying it used from Carmax. I then went to the Lexus dealer and bought the license plate bracket, so no one knew the difference :-)

Becuase we buy used, I always buy an extended warranty. Those warranties have been good to us and saved us lots of money (Throttle body replacement, power steering pump replacement are the two big repairs that come to mind).

Great question and good timing...I am due for a new car soon and started casually looking a couple months ago. My last two cars I bought new and did not take the extended warranty but the previous car was a year old, certified vehicle so I took the extended warranty but it was not seven years.

I only needed to use it once and the service department at the dealership where I bought the car tried to get out of honoring it even though the repair was covered and the extended warranty was still valid. Eventually they saw it my way and and honored it but not until I ran it up the chain and told the GM that I would alert the media and my attorney would be in touch.

I haven't though about taking an extended warranty when I do buy my new car and don't know of any brand that offers seven years...can you share?

I don't keep my cars 7 years. But never buy the extended warranty. I get new cars, and when the warranty is about to expire, I decide if I keep the car or not, or service contract/warranty or not at that point.

I do not buy extended warranties when I have control over what I purchase.

I will explain exceptions later.

Control means I do not buy V1 nor one that is completely tricked out with all the gizmos. No extended warranty for the purchase which I have full control.

Exceptions: When I need a new printer or shredder I buy what Staples is selling in the deep discount offer. I know these will fail under heavy usage withing 12 months. Warranty means replace, not repair. I can live with that.

Reputable brands will either fail within weeks (manufacturers warranty) or last the lifetime of the product. That is a good question to ask.

Of course when it comes to airbags, automatic braking and autonomous controls....all bets are off.

And of course if I KNOW I'm going to beat up a ride, I will call Enterprise.

PS: for the first time I purchased road hazard protection for a set if new tires. The hurricane hit. Picked up lots of roofing nails that found their way to the street with my new tires. The hazard insurance paid of big time.

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